COSTAMARE INC/SH (NYSE:CMRE) hit a new 52-week high on Thursday . The company traded as high as $6.88 and last traded at $6.86, with a volume of 4430 shares trading hands. The stock had previously closed at $6.69.
A number of equities research analysts have recently weighed in on CMRE shares. TheStreet raised COSTAMARE INC/SH from a “d+” rating to a “c” rating in a research note on Thursday, July 25th. ValuEngine cut COSTAMARE INC/SH from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 10th. Finally, Zacks Investment Research raised COSTAMARE INC/SH from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Tuesday, October 8th.
The company has a debt-to-equity ratio of 1.02, a current ratio of 0.82 and a quick ratio of 0.79. The stock has a 50 day moving average price of $6.17 and a two-hundred day moving average price of $5.67. The firm has a market capitalization of $790.64 million, a price-to-earnings ratio of 16.01 and a beta of 2.19.
COSTAMARE INC/SH (NYSE:CMRE) last released its earnings results on Wednesday, July 24th. The shipping company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.10. The firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $110.72 million. COSTAMARE INC/SH had a return on equity of 6.55% and a net margin of 14.26%. COSTAMARE INC/SH’s revenue was up 28.5% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. As a group, research analysts expect that COSTAMARE INC/SH will post 0.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Tuesday, October 22nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.40 dividend on an annualized basis and a yield of 5.84%. COSTAMARE INC/SH’s dividend payout ratio (DPR) is presently 95.24%.
A number of large investors have recently added to or reduced their stakes in CMRE. Denali Advisors LLC boosted its holdings in COSTAMARE INC/SH by 182.9% in the second quarter. Denali Advisors LLC now owns 148,400 shares of the shipping company’s stock valued at $761,000 after purchasing an additional 95,938 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of COSTAMARE INC/SH in the 2nd quarter valued at about $75,000. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of COSTAMARE INC/SH in the 2nd quarter valued at about $144,000. Strs Ohio lifted its holdings in shares of COSTAMARE INC/SH by 7.5% in the 2nd quarter. Strs Ohio now owns 111,300 shares of the shipping company’s stock valued at $570,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of COSTAMARE INC/SH by 87.9% in the 2nd quarter. Creative Planning now owns 37,495 shares of the shipping company’s stock valued at $192,000 after purchasing an additional 17,545 shares during the last quarter. Hedge funds and other institutional investors own 20.39% of the company’s stock.
COSTAMARE INC/SH Company Profile (NYSE:CMRE)
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.
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